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The Al Habtoor Group has confirmed the launch of the first residential units at its under-development Al Habtoor City. The units are priced in the super-premium space, with a one-bedroom unit carrying a hefty Dh3 million-Dh5 million price tag.
''I am not used to building apartments, this is not any low-cost housing,'' chairman Khalaf Al Habtoor said. ''This is a unique project. There is no other project like this in the world. A lot of people from all over the world are looking for a comfortable house. They want a home which is secure for their children and this is a great combination.''
The group is in no hurry to sell the properties if they can't find their niche. The project's development cost is set at Dh2 billion.
Apart from the residences, 'Al Habtoor City' features three hotels — Westin, St Regis, and W.
The St Regis property is expected to open in October.
''This is going to be in the heart of Dubai, especially the theatre which is only available in Las Vegas,'' Al Habtoor said.
''There is a penthouse, which is a 30,000-square-foot 'palace in the air'. Each room in the hotel can have the best view.''
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Source: Omnia Ibrahim, Special to gulfnews.com
The writer is a trainee at Gulf News